Following the decision taken on 10 April 2017, the Local Court of Göppingen has appointed Mr Michael Wahl from PLUTA Rechtsanwalts GmbH as the provisional insolvency administrator of the fibre composite technology company Kunststoff Wagner GmbH.

Together with his team, the restructuring expert Michael Wahl has obtained an initial overview of the company’s situation and decided to continue business operations. The reason for filing for insolvency was liquidity problems. Currently, Kunststoff Wagner GmbH has 16 employees, who were informed of the current situation yesterday during a staff meeting. The restructuring expert will arrange the pre-financing of the insolvency substitute benefits as soon as possible. Employee wages and salaries will be secure for a period of three months thanks to these benefits.

“It is my aim to ensure that the company has good prospects of continuation and to save the jobs. In order to achieve this, we will closely analyse the economic situation of the company and examine the restructuring options,” explained the PLUTA attorney Michael Wahl.

The company based in Donzdorf is active in the area of fibre composite technology and supplies companies involved in sectors such as cars, pharmaceuticals and sports goods. The services range from model making, tool manufacturing and fixture construction to the production of components in any quantity desired. Kunststoff Wagner has modern production facilities and uses state-of-the-art processes in the area of plastics manufacturing and is well known for its high quality standards.